Vietnam proposes moving fuel stabilization funds to the Treasury
Vietnam's Ministry of Industry and Trade has proposed moving the balance of the fuel price stabilization fund from fuel wholesalers to a dedicated State Treasury account.
A worker refuelling a customer's vehicle. Photo: Hoàng Giang/VnExpress.
Vietnam's Ministry of Industry and Trade has proposed moving the balance of the fuel price stabilization fund from fuel wholesalers to a dedicated State Treasury account. The measure appears in the 14th draft of a fuel-trading decree and has not yet taken effect.
The draft would require companies to close their fund balances before the new decree takes effect and commission a specific audit within 12 months. Any differences found would be handled through the proposed inter-ministerial and Treasury process.
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